During the last week of the year, gold and silver declined and thus continued their downward trend of December. Gold and silver declined during the month by 10.5% and 14.90%, respectively. During 2011 gold rose by 10.2% while silver declined by 9.8%. What will be next of gold and silver prices in 2012? You are welcome to check out in my recent yearly recap for 2011 and outlook for 2012.
Gold declined during the last week of the year by 2.44%; furthermore, during last week the average gold reached $1,566.8 /t. oz which was 2.62% below the previous week’s average price of $1,608 /t. oz. Gold finished the week at $1,566 /t. oz.
Silver, much like gold, sharply declined during the week by 4.02%; this week’s average price reached 27.8/t oz which is 4.65% below the previous week’s average $29.16/t oz.
During the week, the average daily per cent change of gold declined by 0.61%; silver also declined by an average daily rate of 0.98%.
In the following chart are the silver and gold that were normalized to 100 to the beginning of the week – December 23rd. Gold and silver had a downward trend during most of the week.
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